Prior art knock-out punch drivers have included a housing with a stationary nut enclosing a non-recirculating ball assembly through which an input shaft is rotated to produce both rotation and axially linear movement of an output draw stud. The draw stud pulls an attached punch through the sheet material. In such arrangements the punch does not rotate during rotation of the draw stud. As a result, frictional drag is produced between the punch threads and threads on the rotating draw stud. Such drag requires higher driver input forces to pull the punch through the sheet material. Further, the balls of the screw are subject to high compressive forces and Brinnelling. This requires use of large diameter balls and resultant larger ball screw raceway pitch.